Additional paid-in capital, to which category of elements of financial statements it belongs:

a.

Expenses

b.

Equity

c.

Assets

d.

Losses

Al-zayed company recognizes depreciation expense for a machine over the 2-year period during which that machine helps the company earn revenue. The basic principle of accounting that best described is:

a.

Full disclosure

b.

Expense recognition

c.

Revenue recognition

d.

Measurement (historical cost)

Wahib Co. reports current and noncurrent classifications in its balance sheet. The basic assumption of accounting that best described is:

a.

Monetary unit

b.

Going concern

c.

Periodicity

d.

Economic entity